Everybody who has ever worked in business is aware of the age-old question of whether it’s better to hire your managing team straight out of the year’s business studies graduates, or via internal promotion. There are pros and cons on both sides of the debate, of course, so here are some of the best arguments in favour of each.
University Provides Desirable Key Skills
Key skills, also known as transferable skills, are those like literacy, numeracy, time-management and logic. They are essential for being a good employee with management potential, and it is claimed by many that a degree is the best way to attain them.
A combination of academic report writing, statistics, and working to deadlines are all tasks that a normal business studies graduate will have and this makes them excellent management material.
University Graduates Are People People
One of the best things about university is the broad spectrum of people you come into contact with. Interacting with this melting pot of people is exactly what is necessary to create a well-rounded, personable manager.
As business graduates would argue, you can learn the business but you can’t learn how to communicate – you either have it or you don’t. A way to get the best of both worlds could be to hire business graduates and then train them regarding what your company is all about. Of course, the reverse argument also applies…
You Can’t Rush Experience
If you promote from within, the people you’re putting in charge of your company are people who know every nook and cranny of it. Ultimately, this means that every decision is informed by every point of view. This is something that new graduates can’t achieve – in other words you can’t rush experience.
You can have your cake and eat it too by using the services of an external training and development company like Developing People to give your current employees leadership skills that will help them develop into excellent managers, too.
Why Settle For Less?
So although there are advantages to both these potential managers, there’s another option on the table: business studies graduates who are long-term employees. Why would you settle for anything less than people with the academic and social skills to run your company along with the deep knowledge of people who have a lot of experience in it?
With the government’s newly announced plans regarding the unemployed, there’ll be more people looking for work at your business than ever before, so be quick, decisive, and start promoting.